Birkenstock (NYSE:BIRK) Sees Unusually-High Trading Volume

Shares of Birkenstock Holding plc (NYSE:BIRK) saw an uptick in trading volume on Thursday . 1,651,555 shares changed hands during mid-day trading, an increase of 111% from the previous session’s volume of 783,648 shares.The stock last traded at $54.08 and had previously closed at $54.61.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIRK. Telsey Advisory Group reiterated an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a report on Thursday, May 30th. BMO Capital Markets boosted their target price on shares of Birkenstock from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Robert W. Baird boosted their target price on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, BNP Paribas initiated coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.56.

Birkenstock Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. The firm’s 50-day simple moving average is $51.56 and its 200-day simple moving average is $48.71.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $522.51 million during the quarter, compared to analysts’ expectations of $499.98 million. As a group, research analysts expect that Birkenstock Holding plc will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in shares of Birkenstock in the 1st quarter worth approximately $40,000. Tower Research Capital LLC TRC purchased a new stake in shares of Birkenstock in the 4th quarter worth approximately $77,000. Venturi Wealth Management LLC purchased a new stake in shares of Birkenstock in the 4th quarter worth approximately $83,000. CWM LLC lifted its position in shares of Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares during the period. Finally, Connable Office Inc. bought a new position in shares of Birkenstock during the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

About Birkenstock

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.